Is Albuquerque, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Albuquerque has remained a Seller's Market.
Housing Prices in Albuquerque, NM
How much do homes in Albuquerque, NM cost?
Median Sold Price
$335,623
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Albuquerque was $335,623 in April 2024, up 6.1% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $189.5K | $200K | +5.5% |
2 Bedrooms | $245K | $269.4K | +10.0% |
3 Bedrooms | $304.7K | $319.8K | +5.0% |
4 Bedrooms | $395.8K | $415.8K | +5.1% |
5+ Bedrooms | $488.9K | $565K | +15.6% |
Summary: Albuquerque housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
Albuquerque | $316.3K | $335.6K | +6.1% |
Rio Rancho | $339.7K | $352.1K | +3.7% |
Corrales | $707K | $693K | -2.0% |
West Bernalillo | $495K | $472.4K | -4.6% |
Housing Supply in Albuquerque, NM
How many homes are available in Albuquerque, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,041 | 1,955 | -4.2% |
Summary: The Albuquerque real estate market had 1,955 homes for sale in April 2024, a 4.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 64 | 66 | +3.1% |
2 Bedrooms | 311 | 285 | -8.4% |
3 Bedrooms | 997 | 952 | -4.5% |
4 Bedrooms | 545 | 526 | -3.5% |
5+ Bedrooms | 124 | 126 | +1.6% |
Summary: The Albuquerque housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.1%, 2 bedroom homes decreased by 8.4%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 1.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
503 | 556 | +10.5% |
Asking Price vs. Sold Price
230 Homes Were Sold
Under Asking
156 Homes Were Sold
At Asking
170 Homes Were Sold
Over Asking
Summary: A total of 556 homes were sold or pending in Albuquerque in April 2024, up by 10.5% month-over-month. Of the 556 sold homes, 41% were sold under asking, 28% were sold at asking, and 31% were sold over asking.
Days on Market for Albuquerque, NM
How long does it take to sell a home in Albuquerque, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 26 Days | +37.3% |
Summary: Homes in Albuquerque had an average of 26 days on market in Apr 2024, up by 37.3% compared to last year.
Breakdown of Home Sale Times
409 Homes Were Sold
Under 30 Days
96 Homes Were Sold
In 30 - 90 Days
51 Homes Were Sold
Over 90 Days
Summary: During April 2024, 556 homes were sold in Albuquerque; 74% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.